Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Concourse Chicago Owner: Single-Story Office Owners Will Benefit
Local investor Jonathan Berger said single-story office properties are generating increasing levels of interest because of the ability to provide characteristics that are important to tenants and investors, including Safety, Affordability, Features and Efficiency.
“As tenants look more closely at the space they need, the environments they want to create and the safety they feel compelled to provide employees, the single-story office sector will benefit,” said Berger, the founder of Berger Asset Management and the owner of a 12-building, single-story complex, Concourse Chicago on the city’s North Side. “That increased demand by tenants will further translate into increased investment activity.”
The increasing attention being paid to single-story properties in Chicago, even before the onset of COVID-19, paved the way for NAI Hiffman to launch its Suburban Single-Story Office Report. Representing just 7.8% of inventory, single story properties have the lowest vacancy rate—16.8%—in the suburbs.
For comments, questions or concerns, please contact Paul Bubny
- ◦Lease
